Karbonsteel Engineering IPO: Price, GMP, Analysis, And Details

Karbonsteel Engineering IPO - Company Analysis

Karbonsteel Engineering IPO under the SME IPO category is a bookbuilding issue of Rs. 59.30 Cr by Karbonsteel Engineering Ltd., which was incorporated in 2011 and is an engineering solutions company with a focus on creating, producing, and delivering superior products for a range of sectors.

The company supports the building, growth, and modernization of large-scale projects by offering structural engineering and fabrication solutions for steel plants, railroad bridges, oil and gas plants, refineries, and other industries.

With a total capacity of 32,400 MT annually, the company runs two production plants in Gujarat and Maharashtra that produce steel bridges, PEBs, and heavy steel structures.

Services:

• Heavy Steel-Fabricated Structures.

• Precision-Fabricated Steel Structures.

• Steel Bridge Structures.

• PEBs, or pre-engineered buildings.
  
  

Karbonsteel Engineering IPO Details

The Karbonsteel Engineering IPO date is on 08 September 2025, and its initial public offering will end on 10 Sep with IPO allotment on Sep 11, and refund initiation on Sep 12, 2025.

The Rs. 59.30 crore new SME IPO comprises a combination of fresh issue of 0.30 crore shares (Rs. 48.33 Cr) and an offer for sale (OFS) of 0.07 crore shares (Rs. 10.97 Cr).

The Karbonsteel Engineering IPO listing date (expected) might be on Monday, Sep 15, 2025, and listing at the BSE and SME. 

The Karbonsteel Engineering IPO price band is Rs. 151 to Rs. 159.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Sep 08, 2025
IPO Closing Date	Sep 10, 2025
IPO Allotment Date	Sep 11, 2025
Refund Initiation	Sep 12, 2025
IPO Listing Date	Sep 15, 2025

 

Click to open demat account and apply for the IPO.

 

Company Financials

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	232.76	176.14	143.76
Total Revenue	273.91	218.77	155.89
PAT	14.16	9.42	5.11
Net Worth	60.37	43.80	28.74
Reserves & Surplus	49.27	38.41	23.74
Borrowings	78.55	59.83	48.52

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	468.32	639.44	1,346.16
Net Cash Flow Investing Activities	(945.06)	(1,619.18)	(488.55)
Net Cash Flow Financing Activities	587.32	577.35	(20.30)

Revenue Bifurcation

(Source: RHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Funding of capital expenditure towards the expansion of the existing Umbergaon facility through the construction of new sheds. ~ Rs. 12.29 Cr.

• Repayment of a portion of certain borrowings availed by the Company. ~ Rs. 3.08 Cr.

• To meet the working capital requirements. ~ Rs. 25.25 Cr.

• General Corporate Purposes. 
  
  

Listed Peers of Karbonsteel Engineering Ltd.

Company Name	Face Value (Rs. per Share)	EPS (Rs.)	P/E (x)
Goodluck India Limited	2	50.66	19.32
Atmastco Limited	10	7.80	31.28

 

Valuation

Metric	Value
ROE	27.19%
ROCE	24.63%
Debt/Equity	1.30
PAT Margin	5.19%
EBITDA Margin	13.41%

 

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 12.78 from the last year, the resulting P/E ratio is 12.44x.

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IPO's Strengths 

• Large-scale industrial and infrastructure project execution capabilities

• Strong order book

• Internal manufacturing and testing capabilities

• Solid rapport with clients

• Seasoned promoters with a capable management group with subject-matter expertise.

 

 

IPO’s Weaknesses 

• Reliance on Raw Materials

• Risk of Customer Concentration

• A business that requires a lot of working capital.

• Risk of Competition and Substitution.
  
  

Karbonsteel Engineering IPO GMP (Grey Market Premium)

Karbonsteel Engineering IPO GMP today has not started yet, as of 30 Aug 2025 at the time of writing this information.

Karbonsteel Engineering IPO Summary

The Karbonsteel IPO has a market maker portion size of 188000 Shares (Rs. 2.99 Cr).

IPO Opening & Closing Date	08 Sep, 2025 to 10 Sep, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 151 to Rs. 159 per Share.
Lot Size	800 Shares
Issue Size	37,29,600 Shares (Rs. 59.30 Cr)
Offer for Sale	6,90,000 Shares (Rs. 10.97 Cr)
Fresh Issue	28,51,600 Shares (Rs. 45.34 Cr)
Listing at	BSE, SME
Issue Type	Bookbuilding IPO
Registrar	Maashitla Securities Pvt. Ltd.

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (1600 Shares) for Rs. 2,54,400 and in multiples thereof, while for S-HNI investors, the minimum Lot is 3 (2400 Shares) for Rs. 3,81,600.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Karbonsteel Engineering IPO Allotment Status

To check the Karbonsteel Engineering IPO Allotment Status, visit the official Registrar’s website or the BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Karbonsteel Engineering Ltd.

• Shrenik Kirit Shah

• Mittal Shrenik Shah.
  
  

Pre-Issue Promoter Shareholding	72.17%
Post-Issue Promoter Shareholding	-

IPO Lead Managers

• Seren Capital Pvt. Ltd.  

Dividend Policy

The company has not declared any dividend during the last three years.

Conclusion

Investors can explore and be involved in India's expanding infrastructure and steel fabrication industries through the Karbonsteel Engineering IPO. Strong sales growth, a healthy order book, and seasoned promoters all point to the company's bright future. Risks, including client concentration, raw material instability, and high working capital requirements, however, must be taken into account.    

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.